2022-04-05-accounts - The Astor Of Hever Trust

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THE ASTOR OF HEVER TRUST

Report and Financial Statements

5 April 2022

THE ASTOR OF HEVER TRUST

REPORT AND FINANCIAL STATEMENTS 2022

CONTENTS	Page
Reference and administrative information	1
Trustees’ report	3
Statement of trustees’ responsibilities	6
Independent examiner's report	7
Statement of financial activities	8
Balance sheet	9
Notes to the accounts	10

THE ASTOR OF HEVER TRUST

REPORT AND FINANCIAL STATEMENTS 2022

REFERENCE AND ADMINISTRATIVE INFORMATION

CHARITY NAME

The full name of the charity is The Astor of Hever Trust

TRUSTEES

John Jacob, Third Baron Astor of Hever The Hon Philip Douglas Paul Astor The Hon Camilla Trusted

ADMINISTRATOR

Gill Willis

CHARITY REGISTRATION NUMBER

264134

REGISTERED OFFICE AND OPERATIONAL ADDRESS

Frenchstreet House Westerham Kent TN16 1PW

BANKERS

Barclays Bank plc Sevenoaks Group of Branches 80 High Street Sevenoaks Kent TN13 1LR

INVESTMENT MANAGERS

Rathbone Investment Management Limited 8 Finsbury Circus London EC2M 7AZ

THE ASTOR OF HEVER TRUST

REPORT AND FINANCIAL STATEMENTS 2022

REFERENCE AND ADMINISTRATIVE INFORMATION

SOLICITORS

Forsters 31 Hill Street London W1J 5LS

ACCOUNTANTS

RNS Chartered Accountants The Poplars Bridge Street Brigg North Lincolnshire DN20 8NQ

INDEPENDENT EXAMINER

John Heeney BA (Hons) FCA RNS Chartered Accountants 50-54 Oswald Road Scunthorpe North Lincolnshire DN15 7PQ

THE ASTOR OF HEVER TRUST

TRUSTEES’ REPORT

The trustees present their annual report on the affairs of the charity, together with the financial statements and independent examiner’s report for the year ended 5 April 2022. The financial statements have been prepared in accordance with the accounting policies set out on page 10, and comply with the requirements of the charity’s governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity was formed as a trust under a trust deed dated 5 July 1955.

Recruitment and appointment by trustees

The trustees during the year and at the date of this report are shown on page 1.

The trust deed allows the continuing trustees to appoint additional trustees.

Trustee induction and training

New trustees would be drawn from the family and would be supported by the experienced family trustees.

Organisational structure

The trustees hold bi-annual trustees’ meetings at which they review the finances of the trust, the investment portfolio and consider and approve grant applications received. The trust uses the services of a self-employed administrator to deal with the day to day running of the trust and the processing of grant payments.

Risk management

The trustees have assessed the major risks to which the trust is exposed, in particular those related to the operations and finances of the trust, and are satisfied that systems are in place to mitigate the exposure to major risks. The trustees have formulated an investment policy to mitigate against investment risks and this is set out on page 4.

OBJECTIVES AND ACTIVITIES

Public benefit

The trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the charity’s aims and objectives and in planning future activities.

Objectives

The trust fund and the income therefrom are held upon trust to apply the same for such charitable purposes as the trustees shall in their absolute discretion think fit.

Activities

The charity aims to achieve its objectives by using the income from the investment portfolio to fund grants in accordance with the policy below.

THE ASTOR OF HEVER TRUST

TRUSTEES’ REPORT (continued)

Grant making policy

When Gavin Astor, 2nd Baron of Hever founded this trust in 1955, his main aim was to ensure donations could be made to charitable bodies in the fields of the arts, medicine, religion, education, conservation, youth and sport. The trustees of today honour these aims and lay particular stress on supporting local youth organisations and generally helping medical research and education programmes. Headquarters and local branches of charities, mainly established organisations, with particular emphasis on Kent are beneficiaries. As from April 2020, the Grampian region in Scotland is no longer a focussed area. In principle donations are not normally given to individuals.

The trust continues to receive very many more requests for donations than can possibly be met. While it remains the policy of the trustees to review as many requests as possible the trustees do give preference to donation requests outlined in a personally written letter which is signed by a representative of the charity.

ACHIEVEMENTS AND PERFORMANCE

During the year the trust received investment income of £28,152 and made grants totalling £23,310 to organisations (see note 11), assisting in a wide variety of causes.

The trustees made no long-term pledge commitments for the year to April 2022 and have supported UK registered charities throughout the year with the focus on Kent continuing.

The trustees gave a significant donation to University College London Hospital (UCLH), which incorporates the erstwhile Middlesex Hospital with which many members of the Astor family had a longstanding association. UCLH is renowned as an outstanding centre for cancer treatment, especially childrens cancers. One highly specialised treatment involves young patients having a radioactive compound injected into the bloodstream, requiring the child to remain wholly isolated from family or friends for up to a month. The trustees were pleased to provide the funding for two interactive gaming systems, which have been shown to help such children cope with the stressful impact of hospitalisation and aid recovery.

Donation to The Haig Statue Restoration Fund, Montreuil-sur-Mer in the Pas-de-Calais:

During the First World War, as Commander-in-Chief of the British and Empire Armies on the Western Front, Field Marshal Sir Douglas Haig, established his headquarters in Montreuil-sur-Mer in the Pas-de-Calais. His leadership and close working relationship with Marshal Foch were recognized by the French, who erected a fine bronze statue in the town’s main square in 1931. The sculptor was Paul Landowski. Although the original statue was destroyed at the beginning of the German occupation in the summer of 1940, it was replaced in 1950 with a replica, cast from the original mould, once again by French subscription. Field Marshal Haig is the only British military figure honoured with an equestrian statue in France. Field Marshal Haig was the grandfather and great grandfather of the present trustees.

Due to the passage of time, the statue required urgent restoration. The Haig Statue Restoration Fund was formed to raise the necessary funds to engage specialists to undertake the work. The fund approached the trustees to make a donation.

After due consideration, the trustees approved a donation of £7,500 last year towards the restoration and rededication of the equestrian statue of Field Marshal Sir Douglas Haig.

They considered that the statue is worthy of protection in the context of the historical significance of Field Marshal Haig’s role in the First World War and the artistic merit of the statue.

In making the donation, the trustees sought and received assurances from the Restoration Fund as to the use of the monies which would be applied only to the direct costs of the restoration.

Update: The Statue Restoration and Unveiling ceremony in Montreuil-sur-Mer was finally able to take place in June 2022 following the delays due to Covid restrictions.The unveiling was attended by many members of the Astor family, the Haig family and soldiers of the regiments connected with the Field Marshal in full dress uniform. The weekend did much to improve the Entente Cordiale.

THE ASTOR OF HEVER TRUST

TRUSTEES’ REPORT (continued)

FINANCIAL REVIEW

The statement of financial activities is set out on page 8.

Investment income at £28,152 (2021: £23,786) was £4,366 higher than in the previous year. No donations were received in the year and donations of £23,310 (2021: £22,500) were paid out. The investment portfolio showed total investment gains of £63,934 (2021: £193,042). As at the balance sheet date the charitable fund was valued at £1,246,662 representing a net increase of £50,081 on the previous year.

The trustees are satisfied that the trust assets are available and adequate to fulfil its obligations.

Investment powers

The trust deed permits the trustees to invest the capital and income of the trust as if they were beneficially entitled.

Investment policy

The investment policy aims for a combination of income and long term capital growth with medium risk through a balanced approach to portfolio management.

The trustees wish to achieve an income level of £35,000 per annum but hope that this can be grown over the medium to long term.

Investments should be held according to the following benchmark: CPI (inflation + 2%) and comparison to the WMA balanced benchmark.

The investment managers are to supply six monthly reviews including a comparison of the portfolio return in relation to the bench mark.

The trustees will review this portfolio statement on an annual basis and will inform the investment managers of any changes in their objectives.

Reserves policy

The trust deed states that all donations and subscriptions should be made primarily out of income, but the trustees may apply any part of the capital of the trust fund for charitable purposes if in their absolute discretion they consider that for some special reason it is desirable to do so. Not more than 5% of the value of the trust fund should be so applied in any one year and the capital so applied shall be made good out of the income of the trust fund in future years.

The trustees review the level of income and reserves at six monthly trustees’ meetings and this is taken into account when setting the level of donations to be made by the trust during the forthcoming year.

The trustees consider that the present level of reserves is sufficient for current needs.

The above notes are a summary of the main terms of the settlement currently applicable. The notes should be used only as an aide memoire and not as a substitute for the trust deed itself, the detailed provisions of which should always be reviewed prior to any decisions being taken by the trustees.

PLANS FOR FUTURE PERIODS

The charity will continue to use the income from the investment portfolio to support charitable bodies in the fields of the arts, medicine, religion, education, conservation, youth and sport, particularly in Kent. As from April 2020, the Grampian region of Scotland is no longer a focussed area.

THE ASTOR OF HEVER TRUST

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

United Kingdom law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the incoming resources and application of the resources of the charity during the year and of its state of affairs at the end of that year. In preparing financial statements giving a true and fair view, the trustees should follow best practice and:

select suitable accounting policies and then apply them consistently
make judgements and estimates that are reasonable and prudent
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy the financial position of the charity and which enable them to ascertain its financial position and to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, the Charities SORP (FRS 102) and the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Signed on behalf of the trustees on 19 December 2022

Lord Astor of Hever

THE ASTOR OF HEVER TRUST

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF

THE ASTOR OF HEVER TRUST

I report to the charity trustees on my examination of the accounts of the charity for the year ended 5 April 2022 which are set out on pages 8 to 23.

Responsibilities and basis of report

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

accounting records were not kept in respect of the charity as required by section 130 of the Act; or
the accounts do not accord with those records; or
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

John Heeney BA (Hons) FCA RNS Chartered Accountants 50-54 Oswald Road Scunthorpe North Lincolnshire DN15 7PQ

22 December 2022

THE ASTOR OF HEVER TRUST

STATEMENT OF FINANCIAL ACTIVITIES Year ended 5 April 2022

Notes INCOME Investment income 3/12 Bank interest TOTAL INCOME EXPENDITURE Charitable activities Donations payable 11 Other expenditure on charitable activities 4 Governance costs 5 TOTAL EXPENDITURE NET EXPENDITURE for the year 6 OTHER RECOGNISED GAINS Gains / (losses) on investments held for charitable use Realised 9 Unrealised 9 TOTAL INVESTMENT GAINS / (LOSSES) Reconciliation of funds NET MOVEMENT IN FUNDS Total funds brought forward at 6 April Total funds carried forward at 5 April	Unrestricted funds 2022 £ 2021 £ 28,152 23,786 1 6 28,153 23,792 23,310 22,500 3,886 3,519 14,810 13,641 42,006 39,660 (13,853) (15,868) 14,155 31,738 49,779 161,304 63,934 193,042 50,081 177,174 1,196,581 1,019,407 1,246,662 1,196,581	Unrestricted funds 2022 £ 2021 £ 28,152 23,786 1 6 28,153 23,792 23,310 22,500 3,886 3,519 14,810 13,641 42,006 39,660 (13,853) (15,868) 14,155 31,738 49,779 161,304 63,934 193,042 50,081 177,174 1,196,581 1,019,407 1,246,662 1,196,581
		23,792
		22,500 3,519 13,641
		39,660
		(15,868)
		31,738 161,304
		193,042
		177,174 1,019,407
		1,196,581

All activities derive from continuing operations. There are no recognised gains and losses for the current or prior year other than as stated above.

THE ASTOR OF HEVER TRUST

BALANCE SHEET 5 April 2022

Notes FIXED ASSETS Tangible fixed assets for use by the charity 8 Investments 9 CURRENT ASSETS Barclays Bank balances CREDITORS: amounts falling due within one year Accruals NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES UNRESTRICTED FUNDS	£ 14,673 14,673 (3,000) (3,000)	2022 £ 1 1,234,988 1,234,989 11,673 1,246,662 1,246,662	£ 8,930 8,930 (3,000) (3,000)	2021 £ 1 1,190,650 1,190,651 5,930 1,196,581 1,196,581

The financial statements were approved by the trustees on 19 December 2022

Signed on behalf of the trustees

Lord Astor of Hever

THE ASTOR OF HEVER TRUST

NOTES TO THE ACCOUNTS Year ended 5 April 2022

1. ACCOUNTING POLICIES

The charity constitutes a public benefit entity as defined by FRS 102. The accounts have been prepared on the accruals basis, in accordance with applicable accounting standards, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019 and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), subject to any limitations due to lack of historical information.

The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

Basis of Accounting

The financial statements are prepared under the historical cost convention, as modified to include fixed asset investments at market value.

Tangible fixed assets

Depreciation is provided on cost in equal annual instalments over the estimated useful lives of the assets. The rates of depreciation are as follows:

Office equipment 33.3% on cost

Fund accounting

The charity’s funds are general unrestricted funds which represent unrestricted income which is expendable at the discretion of the trustees in the furtherance of the objects of the charity. Such funds may be held in order to finance both working capital and capital investment.

Incoming resources

All income is recognised in the statement of financial activities when the conditions for receipt have been met and there is reasonable assurance of receipt. Where a claim for repayment of income tax has or will be made, such income is grossed up for the tax recoverable.

Donations receivable

Donations receivable are reported gross and include any related tax recoverable.

Investment income

Investment income is accounted for when receivable. Tax recoverable relating to investment income is accounted for in the same period as the related income.

Charitable activities

Charitable activities include all expenditure directly related to the objects of the charity and include the following:

Donations payable

Donations payable are accounted for when the trustees have accepted a legal or moral obligation to make the grant.

Other expenditure on charitable activities

Other expenditure on charitable activities includes all other costs incurred in the administration and running of the charity.

THE ASTOR OF HEVER TRUST

NOTES TO THE ACCOUNTS Year ended 5 April 2022

1. ACCOUNTING POLICIES (continued)

Governance costs

Governance costs comprise those costs associated with meeting the constitutional and statutory requirements of the charity.

Charitable commitments

Commitments which are legally binding on the trustees are accounted for as resources expended in the statement of financial activities. Where the promise of financial support is not binding and the grants are to be wholly financed from future income the commitments are disclosed in a note to the accounts.

2. TAXATION

The trust is a registered charity and does not trade for tax purposes. It is not liable to corporation tax on its surplus derived from charitable activities.

3. INVESTMENT INCOME

INVESTMENT INCOME
Income from UK listed investments OTHER EXPENDITURE ON CHARITABLE ACTIVITIES Administrator’s fees and expenses GOVERNANCE COSTS Accountancy fees Independent examiner’s fees Rathbones management fees NET EXPENDITURE FOR THE YEAR Net outgoing resources for the year is stated after charging: Independent examiner’s remuneration	Unrestricted Funds 2022 £ 2021 £ 28,152 23,786 2022 £ 2021 £ 3,886 3,519 2022 £ 2021 £ 2,400 2,400 1,200 1,200 11,210 10,041 14,810 13,641 2022 £ 2021 £ 1,200 1,200
		2021 £ 2,400 1,200 10,041
		13,641 2021 £ 1,200

4. OTHER EXPENDITURE ON CHARITABLE ACTIVITIES

5.

6. 7. INFORMATION REGARDING EMPLOYEES AND TRUSTEES

The trust had no employees in the current or previous year.

No trustee or person related or connected by business to them has received any remuneration or reimbursement for expenses from the trust, and there have been no related party transactions during the year.

THE ASTOR OF HEVER TRUST

NOTES TO THE ACCOUNTS Year ended 5 April 2022

8. TANGIBLE FIXED ASSETS FOR USE BY THE CHARITY

Cost
At 5 April 2021
At 5 April 2022
Accumulated depreciation
At 5 April 2021
At 5 April 2022
Net book value
At 5 April 2022
At 5 April 2021
9.
INVESTMENTS HELD AS FIXED ASSETS
Quoted UK stock exchange investments
Market value at 5 April 2021
Additions at cost
Disposal proceeds
Net realised investment gains / (losses)
Net unrealised investment gains / (losses)
Market value at 5 April 2022
Cost at 5 April
Investments comprise the following:
Investments listed on a stock exchange
Cash deposits held as part of investment portfolio

Office
equipment
£
460
460
459
459
1
1
2022
£
2021
£
1,184,759
1,001,190
263,335
378,532
(283,885)
(388,005)
14,155
31,738
49,779
161,304
1,228,143
1,184,759
1,064,559
1,042,000
1,228,143
1,184,759
6,845
5,891
1,234,988
1,190,650

Investments are revalued at middle market value at the year end.

THE ASTOR OF HEVER TRUST

NOTES TO THE ACCOUNTS Year ended 5 April 2022

9. INVESTMENTS HELD AS FIXED ASSETS (continued)

The investments are detailed below and those exceeding £61,749 (2021: £59,532) individually represent greater than 5% of the investment portfolio value:

Prusik Umbrella Fund Asian Equity Income Polar Capital Global Financials Trust Ordinary Shares Jupiter Strategic Bond Fund Findlay Park American Funds HG Capital Ordinary Shares Link Fund Solutions Trojan Income S Link Fund Solutions Trojan Fund S Jupiter Unit Trust Japan Income Artemis Fund Managers Global Income Aberdeen Standard Fund Mgrs Index Linked Bond HICL Infrastructure River & Mercantile UK Equity Income Link Fund Solutions Gresham Hse M-Cap Inc F Inc Jupiter Unit Trust Managers UK Special Sits IShares II PLC USD Tips UCITS ETF (GBP) T Bailey Fund Managers Evenlode Income Princess Private Equity Holdings T Rowe Price Funds US Large Cap Val Equity (GBP) Rathbone Unit Trust Management High Quality Bond Janus Henderson Investments Strategic Bond Credit Suisse 1286 FTSE Def Auto Jupiter Asset Mgrs UK Mid Cap U1 Acc Wisdomtree Metal Secs Ltd Physical Gold (USD) JP Morgan 1326 New Issue FTSE Autocall Chrysalis Investments Ltd Ordinary Shares Threadneedle Special Inv US Equity Income L Inc Brown Advisory Funds US Smir C Fund Baillie Gifford & Co Ltd Japanese B Inc Capital Group EM Total Opps ZGO Fundsmith LLP Equity I Inc Rathbone Unit Trust Man Global Sustainability Greencoat UK Wind plc 1p Ordinary Shares Barings Umbrella Fund EM Dbt Bold Tot Rtn Inc Schroder Inv Man Global Energy Transition Q Inc Rathbones GBP Capital Investment Account Rathbones GBP Income Account	2022 £ 44,305 25,994 68,719 85,999 - 75,522 20,031 55,742 67,908 21,602 54,572 67,463 30,705 74,918 20,561 95,680 28,809 26,044 45,017 31,002 - - 20,631 - 20,491 64,146 29,593 - 21,812 28,842 30,528 46,886 - 24,621 2,560 4,285 1,234,988	2021 £ 42,282 - 72,865 96,614 21,016 94,637 17,817 38,232 62,424 32,578 50,025 63,908 - 43,070 - 89,160 - - 47,872 33,051 31,155 30,796 17,549 31,330 22,550 53,907 29,664 23,564 23,430 26,294 30,193 36,231 22,545 - 3,220 2,671 1,190,650

THE ASTOR OF HEVER TRUST

NOTES TO THE ACCOUNTS Year ended 5 April 2022

10. CHARITABLE COMMITMENTS

At the balance sheet date no commitments had been made for future grants.

11. DONATIONS PAYABLE

Charity	2022
	£
Abigail’s Footsteps	250
Aquarian Opera	250
Army Benevolent Fund	200
Asthma & Lung UK	200
BLESMA Limbless Veterans	500
Blind Veterans	750
British Red Cross	300
British Red Cross – DEC Ukraine Humanitarian Appeal	1,500
Cancer Research UK	250
Chelsea Pensioners – Royal Hospital Chelsea Appeal	1,000
Combat Stress	1,000
David Shepherd Wildlife Foundation	250
Dogs Trust	100
For Life Thailand	250
Greenhook Fishing	500
Hospice in the Weald	100
Marwar Foundation - Covid Appeal	1,000
Medical Detection Dogs	1,500
National Autistic Society	200
Royal British Legion Scotland – Founders Day	2,500
Royal British Legion Scotland – Dryburgh Abbey Haig Memorial Gravestones Restoration	2,160
RJ & AH Orthopaedic Hospital – in memory of David Myddelton	150
Royal Hospital Chelsea – Chelsea Pensioners	2,000
SSAFA Carol Service	100
Stag Theatre Community Arts Centre	1,000
St Mary’s Church Westerham (cancelled)	(500)
The Grange at Bookham	100
The Heart of Headcom	100
The Royal British Legion	300
University College London Hospitals NHS Foundation Trust	4,600
Walking With the Wounded	500
Wheely Boat Trust	200
	__
Total donations payable as disclosed in statement of financial activities (page 8)	23,310

THE ASTOR OF HEVER TRUST

NOTES TO THE ACCOUNTS Year ended 5 April 2022

12. SCHEDULE OF INVESTMENTS AND INCOME

Prusik Umbrella Fund Asian Equity Income 13/07/2021 Overseas income 09/01/2022 Overseas income Polar Capital GBL Fin Trusts Ordinary Shares 21/06/2021 Purchase 13/08/2021 Conversion 13/08/2021 Conversion 24/02/2022 Dividend Jupiter Strategic Bond Fund Income 30/06/2021 Gross interest 04/10/2021 Gross interest 31/12/2021 Gross interest 31/03/2022 Gross interest Findlay Park American Funds 22/04/2021 Sale		Holding 342.000 342.000 - 24,600.000 (24,600.000) 15,436.000 15,436.000 110,854.470 110,854.470 807.000 (180.000) 627.000	Book value £ 27,159.56 27,159.56 - 24,600.00 (24,600.00) 24,600.00 24,600.00 72,761.74 72,761.74 36,006.04 (8,031.09) 27,974.95	Cost/ (proceeds) £ - 24,600.00 24,600.00 - (22,410.00) (22,410.00)	Profit/(loss) based on cost £ - - - 14,378.91 14,378.91	Market Value 5 April 2022 £ 44,305.00 25,994.00 68,719.00 85,999.00		Net income £ 1,072.10 919.37
								1,991.47
								308.72
								308.72
								676.54 827.86 676.32 630.10
								2,810.82

								-

THE ASTOR OF HEVER TRUST

NOTES TO THE ACCOUNTS Year ended 5 April 2022

12. SCHEDULE OF INVESTMENTS AND INCOME (continued)

HG Capital Trust plc Ordinary Shares 28/05/2021 Gross interest 22/10/2021 Gross interest 25/11/2021 Sale Link Fund Solutions Trojan Income 06/04/2021 Dividend 26/04/2021 Sale 21/06/2021 Sale 04/10/2021 Dividend 30/11/2021 Purchase 05/04/2022 Dividend 05/04/2022 Equalisation Link Fund Solutions Trojan Fund 06/04/2021 Dividend Jupiter Unit Trust MGRs Japan Income 05/10/2021 Dividend 26/11/2021 Purchase 31/03/2022 Dividend 31/03/2022 Equalisation	Holding 6,427.000 (6,427.000)	Book value £ 12,132.72 (12,132.72) - 94,091.90 (28,170.51) (23,065.33) 30,744.18 (277.08) 73,323.16 14,117.74 14,117.74 30,230.82 22,081.82 (96.32) 52,216.32	Cost/ (proceeds) £ (26,976.77) (26,976.77) (29,391.30) (24,783.11) 30,744.18 (277.08) (23,707.31) - 22,081.82 (96.32) 21,985.50	Profit/(loss) based on cost £ 14,844.05 14,844.05 1,220.79 1,717.78 2,938.57 - -	Market Value 5 April 2022 £ - 75,522.00 20,031.00 55,742.00	Net income £ 192.81 128.54 321.35 1,543.18 459.43 928.70 2,931.31 71.31 71.31 435.24 562.75 997.99
	-
	53,762.005 (16,096.000) (13,179.000) 15,738.000
	40,225.005
	6,236.170
	6,236.170
	33,789.000 17,867.000
	51,656.000

THE ASTOR OF HEVER TRUST

NOTES TO THE ACCOUNTS Year ended 5 April 2022

12. SCHEDULE OF INVESTMENTS AND INCOME (continued)

Artemis Fund MGRs Global Income Units 05/10/2021 Dividend 31/03/2022 Dividend Aberdeen Standard Fund Mgrs Gbl Index Linked Bond 21/06/2021 Sale 30/06/2021 Gross interest 30/09/2021 Gross interest 31/12/2021 Gross interest 31/03/2022 Gross interest HICL Infrastructure Co Ltd 30/06/2021 Gross interest 30/06/2021 Dividend 30/09/2021 Gross interest 30/09/2021 Dividend 31/12/2021 Gross interest 31/12/2021 Dividend 31/03/2022 Gross interest 31/03/2022 Dividend River & Mercantile Asset Man UK Equity Income 28/05/2021 Dividend 30/11/2021 Dividend	Holding 60,000.000 60,000.000 53,750.000 (18,750.000) 35,000.000 30,318.000 30,318.000 12,530.000 12,530.000	Book value £ 49,503.58 49,503.58 30,128.92 (10,510.09) 19,618.83 47,356.62 47,356.62 57,899.96 57,899.96	Cost/ (proceeds) Profit/(loss) based on cost Market Value 5 April 2022 Net income £ £ £ £ 969.36 772.92 - - 67,908.00 1,742.28 (11,435.63) 925.54 80.20 70.60 93.70 136.33 (11,435.63) 925.54 21,602.00 380.83 615.03 12.55 306.03 318.52 368.48 256.07 430.94 193.61 - - 54,572.00 2,501.23 731.28 1,499.10 - - 67,463.00 2,230.38

THE ASTOR OF HEVER TRUST

NOTES TO THE ACCOUNTS Year ended 5 April 2022

12. SCHEDULE OF INVESTMENTS AND INCOME (continued)

Book value £ - 30,791.34 30,791.34 43,304.86 27,889.77 (192.52)	Cost/ (proceeds) £ 30,791.34 30,791.34 27,889.77 (192.52)	Profit/(loss) based on cost £ - - - -	Market Value 5 April 2022 £ 30,705.00 74,918.00 20,561.00 95,680.00


71,002.11	27,697.25	-	74,918.00
- 21,396.97	21,396.97
21,396.97	21,396.97	-	20,561.00
83,895.56 83,895.56	-	-	95,680.00

THE ASTOR OF HEVER TRUST

NOTES TO THE ACCOUNTS Year ended 5 April 2022

12. SCHEDULE OF INVESTMENTS AND INCOME (continued)

Princess Private Equity Holdings Ordinary Shares 25/11/2021 Purchases T Rowe Price Funds US Large Cap Val Equity 26/04/2021 Purchase 26/05/2021 Conversion 26/05/2021 Conversion Rathbone Unit Trust Mgmt High Quality Bond S Dist 30/06/2021 Gross interest 30/09/2021 Gross interest 31/12/2021 Gross interest 31/03/2022 Gross interest Janus Henderson Investments Strategic Bond 28/05/2021 Gross interest 31/08/2021 Gross interest 30/11/2021 Gross interest 28/02/2022 Gross interest	Holding - 2,823.000 2,823.000 - 977.000 (977.000) 2,266.670 2,266.670 47,748.000 47,748.000 23,275.000 23,275.000	Book value £ - 32,778.80 32,778.80 - 22,471.00 (22,471.00) 22,471.00 22,471.00 48,346.26 48,346.26 32,057.58 32,057.58		Cost/ (proceeds) £ 32,778.80 32,778.80 22,471.00 22,471.00 -	Profit/(loss) based on cost £ - - - -	Market Value 5 April 2022 £ 28,809.00 26,044.00 45,017.00 31,002.00	Market Value 5 April 2022 £ 28,809.00 26,044.00 45,017.00 31,002.00	Net income £ - - 300.81 286.49 286.49 296.04 1,169.83 286.49 248.65 227.40 245.27 1,007.81






				-			31,002.00

THE ASTOR OF HEVER TRUST

NOTES TO THE ACCOUNTS Year ended 5 April 2022

12. SCHEDULE OF INVESTMENTS AND INCOME (continued)

Credit Suisse 1286 FTSE Def Auto 17/08/2021 Redemption Jupiter Asset Managers UK Mid Cap U1 Acc 29/11/2021 Sale Wisdomtree Metal Secs Ltd Physical Gold (USD) JP Morgan 1326 New Issue FTSE AUtocall 10/02/2022 Sale Chrysalis Investments Ltd Ordinary Shares	Holding 29,705.000 (29,705.000) - 14,763.000 (14,763.000) - 149.000 149.000 30,335.000 (30,335.000) - 11,564.000 11,564.000	Book value £ 29,705.00 (29,705.00) - 25,207.42 (25,207.42) - 17,357.38 17,357.38 30,335.00 (30,335.00) - 23,706.20 23,706.20	Cost/ (proceeds) £ (33,447.83) (33,447.83) (30,676.04) (30,676.04) - (33,899.36) (33,899.36) -	Profit/(loss) based on cost £ 3,742.83 3,742.83 5,468.62 5,468.62 - 3,564.36 3,564.360 -	Market Value 5 April 2022 £ - - 20,631.00 - 20,491.00	Net income £
						-

						-

						-

						-

						-

THE ASTOR OF HEVER TRUST

NOTES TO THE ACCOUNTS Year ended 5 April 2022

12. SCHEDULE OF INVESTMENTS AND INCOME (continued)

Threadneedle Special Inv US Equity Income L Inc 07/04/2021 Dividend 30/06/2021 Dividend 01/10/2021 Dividend 31/12/2021 Dividend 31/03/2022 Dividend Brown Advisory Funds US Smir Cos C Fund Baillie Gifford & Co Ltd Japanese B Inc 30/06/2021 Dividend 30/06/2021 Equalisation 29/11/2021 Sale Capital Group EM Total Opps ZGD 19/04/2021 Overseas income 19/07/2021 Overseas income 15/10/2021 Overseas income 18/01/2022 Overseas income	Holding 18,664.000 18,664.000 1,274.000 1,274.000 1,294.000 (1,294.000) - 2,889.000 2,889.000	Book value £ 48,170.51 48,170.51 31,391.82 31,391.82 24,547.18 (84.77) (24,462.41) - 22,595.44 22,595.44	Cost/ (proceeds) £ - - (84.77) (23,887.24) (23,972.01) -	Profit/(loss) based on cost £ - - (575.17) (575.17) -	Market Value 5 April 2022 £ 64,146.00 29,593.00 - 21,812.00	Net income £ 278.11 283.90 305.42 277.93 333.28 1,478.64 - 140.39 140.39 207.14 275.32 270.12 246.14 998.72

THE ASTOR OF HEVER TRUST

NOTES TO THE ACCOUNTS Year ended 5 April 2022

12. SCHEDULE OF INVESTMENTS AND INCOME (continued)

Fundsmith LLP Equity I Inc 31/08/2021 Dividend 28/02/2022 Dividend Rathbone Unit Trust Mgmt Global Sustainability S Ins 30/06/2021 Dividend 30/06/2021 Equalisation 31/12/2021 Dividend Greencoat UK Wind plc 1p Ordinary Shares 28/05/2021 Dividend 27/08/2021 Dividend 19/11/2021 Purchase 26/11/2021 Dividend 25/02/2022 Dividend	Holding 5,172.000 5,172.000 21,485.000 21,485.000 27,999.000 2,153.000 30,152.000	Book value £ 21,704.68 21,704.68 27,708.96 (7.70) 27,701.26 36,678.69 2,841.96 39,520.65	Cost/ (proceeds) £ - (7.70) (7.70) 2,841.96 2,841.96	Profit/(loss) based on cost £ - - -	Market Value 5 April 2022 £ 28,842.00 30,528.00 46,886.00	Net income £ 49.36 0.25 49.61 146.99 98.63 245.82 502.58 502.58 502.58 541.23 2,048.97

THE ASTOR OF HEVER TRUST

NOTES TO THE ACCOUNTS Year ended 5 April 2022

12. SCHEDULE OF INVESTMENTS AND INCOME (continued)

Barings Umbrella Fund EM Mktts Dbt Bold Tot Rtn Inc 12/04/2021 Gross interest 08/07/2021 Gross interest 07/10/2021 Gross interest 28/10/2021 Sale Schroder Inv Man Global Energy Transition Q Inc 12/10/2021 Purchase	Holding Book value Cost/ (proceeds) £ £ 208.000 23,907.52 (208.000) (23,907.52) (21,719.36) - - (21,719.36) - - 47,175.000 23,139.34 23,139.34 47,175.000 23,139.34 23,139.34 1,064,559.36 ( 20,549.85)	Profit/(loss) based on cost £ (2,188.16) (2,188.16) - 43,099.55	Market Value 5 April 2022 £ - 24,621.00 1,228,143.00	Net income £ 294.98 316.49 327.08 938.55 - 28,151.99